We know that finding out your nsave account has been closed or can't be opened can be frustrating and confusing. We're here to help shed some light on possible reasons why this might happen.
While we can't always provide specific details for individual cases, we want to share some common situations that could lead to an account closure. Hopefully, this gives you a better understanding of our policies and the steps we take to keep everyone's accounts safe and secure.
Providing Tampered or Forged Information: Trust is built on honesty. If we discover that any information or documents you've provided are altered or not genuine, we might have to close your account. This helps protect you and other users from potential fraud or security issues.
Becoming a Politically Exposed or Sanctioned Individual: If you become a politically exposed person, get listed on international sanctions, or are linked to financial crime activities, we may need to take action. Closing the account in such cases helps us comply with legal requirements and maintain a secure environment for all. We have and adhere to strict guidelines we must follow in these situations as part of our commitment to global financial safety.
Suspicious Activity: We're always on the lookout for activities that might raise concerns about financial crime, fraud, or compliance. We have a duty to prevent any such activities and to keep our platform safe. If we spot something unusual, we may be obligated to close the account to prevent any potential risks. This responsibility is shared with our partners, who also require us to monitor and prevent such activities.
Not Providing Necessary Information: Sometimes, we'll ask for additional information to meet compliance standards and keep your account secure. We understand that some situations might be tricky to navigate, and we're here to help. However, we work with partners who also sometimes request more information, and we need to provide it. If we don't receive the information we need, or if it's not satisfactory, we might have to close the account. We're just trying to make sure everything checks out and everyone stays safe.
Living in a Sanctioned Region: If you move to or are located in a country or region that's under international sanctions, we might need to restrict or close your account. While we have to follow these rules, we genuinely hope to one day offer our services to everyone, no matter where they are.
Using the Account for Prohibited Activities: Our accounts aren't set up for cryptocurrency transactions or certain peer-to-peer activities. If an account is used for these purposes, we might need to close it to stay in line with regulations and keep the platform secure.
Improper Use of Account: nsave accounts are designed for personal use. If an account is being used for business transactions or corporate activities—like acting as a payment gateway—it doesn't fit within our current offerings, and we might have to close it. However, if you're a freelancer or self-employed, using nsave to receive funds from your clients is perfectly acceptable and supported.
Account Used by Others or Multiple People: If we have reason to believe that your account is being used by someone else or by multiple people, we might have to close it. This is to protect your personal information and ensure that each account is secure and used only by its rightful owner.
We're Here to Help
At the end of the day the reason why we launched nsave is to help democratise financial services for all. We understand that some situations can be complex, and mistakes can happen.
If you believe your account was closed in error, please reach out to us and provide more details. We'll do everything we can to review your case and help resolve the issue. Our goal is always to protect our users and ensure that nsave remains a trusted place for everyone.
If you have any questions or need further assistance, please don't hesitate to contact our customer support team on the app or via contact@nsave.com — we're here to help.